Communication 

TO  TMK 


HOARD  OF  ALDERMEN 


CITY  OF  NEW  YORK, 


PRESIDENT  OF  THE  TRUSTEES 


J%w  York  and  ^Brooklyn  |3ridqe. 


MADE   FEB.  3,  1876. 


BROOKLYN : 

RaiJIJC  PHINT,  34,  3ft  AND  3S  Ffl.TON  STKKKT. 


COMMUNICATION 

TO  THh! 

BOARD  OF  ALDERMEN 

OF  THE 

CITY  OF  NEW  YORK, 

BY  THE 

PRESIDENT  OF  THE  TRUSTEES 

OF  THE 

JMew  York  and  |3f[ooklyn  ^ridqe, 

MADE   FEB.  3,  1876. 


UKOOKLYN : 
L aui  t  Print,  34  and  36  Pclton  Stkke*. 


1376. 


Avery  Architectural  and  Fine  Arts  Library 
Gift  of  Seymour  B.  Durst  Old  York  Library 


The  Tiu'Stees  of  the  New  York  and  Brooklyn  Bridge,) 
Office,  No.  21  Water  Street,  > 

Brooklyn,  Feb.  3,  1876. 
Hon.  Samuel  Lewis,  President  of  the  Board  of  Alder- 
men of  the  City  of  New  York  : 

Sir: 

I  have  the  honor  to  transmit  herewith  a  communica- 
tion, in  Compliance  with  the  resolution  of  the  Board  of 
Aldermen  of  the  20th  of  January  ult. 

Yonrs  respectfully, 

HEN:  C.  MURPHY, 

President. 


Digitized  by  the  Internet  Archive 
in  2014 


http://archive.org/details/communicationtobOOdurs 


COMMUNICATION. 


To  the  Honorable  the  Board  of  Aldermen  of  the  City 
of  New  York : 

I  have  the  honor  to  acknowledge  the  receipt  of  your 
resolution  of  the  20th  of  January  last,  as  follows  : 

Resolved,  That  the  President  of  the  New  York  and  Brooklyn 
Bridge  Gompany  be  and  he  is  hereby  requested  to  report  to  this 
Board,  at  his  earliest  eonvenienee,  a  statement  showing  in  detail  the 
names  of  the  stockholders  or  subscribers  to  the  stock  of  the  New  Fork 
Bridge  Company,  with  the  amount  subscribed  and  paid  by  each, 
whether  individuals  or  corporations,  previous  to  or  at  the  time  of  the 
passage  of  chapter  900,  Laws  of  1875  ;  the  amount  paid  or  refunded  to 
each  stockholder,  as  provided  in  section  2,  of  chapter  001,  Laws  of 
1874,  re-enacted  by  chapter .800*  of  Laws  of  187o;  the  original  esti- 
mated cost  of  the  bridge  j  the  amount  already  expended  by  the  orig- 
inal Bridge  Company,  and  as  at  present  constituted,  to  be  given 
separately:  the  estimated  amount  now  required  to  complete  the 
work ;  When,  if  ever,  the  Common  Council  of  this  city  accepted  the 
provisions  of  section  3,  of  chapter  001,  Laws  of  1874;  the  amount, 
if  any.  refunded  to  this  city  in  its  capacity  as  a  stockholder,  in  the 
original  Bridge  Company,  to  the  amount  of  $1,500,000;  and  such 
other  information  in  connection  with  t lie*  enterprise  as  h<-  may  deem 
of  interest  to  the  public,  or  of  use  to  this  Common  Council,  which 
i6  now  called  upon  to  authorize  the  issue  of  bonds  of  the  city  of 
New  York,  to  the  amount  of  $2,666,666.66,  in  ad  lition  to  the  vast 
sum6  already  contributed  to  the  undertaking,  as  it  is  desirable  that 
all  the  information,  possible  to  obtain,  should  be  furnished  to  guide 
this  Common  Council  to  an  intelligent  comprehension  of  all  the 


6 


facts  and  figures  relating  to  the  measure,  and  that  may  seem  to 
justify  the  issue  of  the  bonds  of  this  city  to  the  amount  above- 
named,  in  aid  of  the  present  Bridge  Company,  or  the  completion  of 
the  bridge,  under  its  present  management. 

The  Company,  to  whose  President  this  inquiry  is  ad- 
dressed, is  no  longer  in  existence.  It  was  dissolved  by 
operation  of  the  statutes  referred  to  in  the  resolution, 
and  consequently  there  is  no  such  officer.  But,  as  the 
resolution  has  been  delivered  to  me,  the  President  of  the 
Board  of  Trustees,  now  in  charge  of  the  work,  I  pre- 
sume it  was  so  intended,  and,  therefore,  give  in  that 
capacity,  the  information  desired. 

As  to  the  Stockholders  of  the  Bridge  Company. 

The  schedule  hereto  annexed,  marked  A.,  will,  as  far  as 
practicable,  exhibit  the  names  of  the  stockholders  of  the 
New  York  Bridge  Company,  with  the  amount  subscribed 
and  paid  by  each,  whether  individuals  or  corporations, 
previous  to,  or  at  the  time  of  the  passage  of  chapter  300, 
of  the  Laws  of  1875  ;  and,  also,  the  amount  refunded  to 
each  stockholder  as  provided  in  section  2  of  chapter  601 
of  the  Laws  of  1874.  In  consequence  of  the  transfers  of 
stock  made  from  time  to  time,  two  tables  are  given  for 
this  purpose :  one  showing  the  original  subscribers  with 
the  amount  subscribed,  and  the  other,  the  stockholders 
at  the  the  time  of  the  passage  of  the  law  of  1875,  and 
the  amout  paid  on  account  of  the  stock  held  by  them  at 
that  time. 

In  this  connection  it  may  be  stated,  as  requested,  that 
no  amount  has  been  refunded  to  the  City  of  New  York 
in  its  capacity  as  a  stockholder  in  the  Company. 

The  Original  Estimate  of  the  Cost  of  the  Bridge. 


The  first  estimate  was  made  in  1867,  by  the  late  John 
A.  Hoebling,  Esq.,  its  designer  and  first  engineer,  for  a 


structure  80  feet  wide,  and  130  feet  above  high  water,  ex- 
clusive of  the  land,  as  follows: 


Suspended  superstructure  .$2,787,072 

Anchorage,  including  excavation,  plates  and  chains   705,424 

Foundation  of  Brooklyn  tower   355,400 

Foundation  of  New  York  tower- 
Pile  foundation  $300,087  00 

Rock  foundation   727,204  32 

The  latter  was  adopted   727,204 

Two  towers   1 ,400.820 

Approaches   742,516 

Engines  and  machineiy   40,000 

Toll-houses  and  gateways   20,000 

Engineering   150,000 

Contingencies  .'   200,781 


To  the  foregoing  sums,  amounting  to  $7,328,207.32,  was  ad- 
ded eight  per  cent,  for  additional  width  to  85  feet,  and 
height  to  135  feet,  as  required  for  the  latter,  before  com- 
mencing the  bridge,  by  the  Secretary  of  War,  under  the 
Act  of  Congress  of  March  3,  1860   586,250 

Total  for  structure   $7,014,457 

A  detailed  estimate  of  the  cost  of  the  land  was  made 
for  the  first  time  under  the  direction  of  the  Executive 
Committee  of  the  Company  in  1873.  For  that  purpose 
a  map  was  prepared  by  the  Engineering  department  <»f 
all  the  lands  not  then  taken — not  only  those  necessary  for 
the  foundations  to  be  built  and  the  approaches,  but,  also, 
those  over  which  the  bridge  will  pass,  showing  the  prop- 
erty of  each  owner  separately,  together  with  the  parts  of 
such  lots  as  extended  outside  of  the  lines  of  the  bridge, 
and  it  would  be  for  the  interest  of  all  parties  to  take. 

An  abstract  was  then  taken  of  the  valuations  of  these 
different  pieces  of  land  from  the  books  of. the  City  Asses- 
sors of  New  York  and  Brooklyn  for  the  year  L873,  and 
where  only  a  part  of  a  lot  was  taken  a  valuation  was 
placed  upon  it  bearing  the  same  ratio  to  the  a»e>sc<] 
valuation  of  the  whole  lot  as  the  area  of  the  pai  r  taken 
bore  to  the  area  of  the  whole.  An  estimate  was  then 
made  of  the  actual  value  of  each  parcel  by  taking  twice 


8 


and  a  half  the  assessed  valuation  of  the  land  required  in 
New  York,  and  twice  the  assessed  valuation  of  that  in 
Brooklyn. 

The  following  was  the  result  : 


For  land  in  New  York  then  yet  to  betaken   $2,401,978.00 

For  land  in  Brooklyn   520,394.00 


Making  in  both  cities   $2,922,372.00 

There  had  been  taken  previously  land  not  embraced 
in  the  foregoing  amount,  costing   735,478.83 


Making  the  total  estimate  of  land  required  for  the 

purpose  of  the  bridge   $3,657,850.83 

Which  sum,  added  to  $7,914,457  for  the  structure, 
made  the  entire  cost  of  the  bridge  as  ftrst  esti- 
mated  .  $11,572,287.00 

The  Amount  Already  Expended. 

There  has  been  expended  up  to  the  1st  of  January, 

1876,  for  land   $1,056,976.61 

For  construction   4,897,933.02 


In  all   $5,954,909.63 

Of  which  there  was  expended  by  the  original  Bridge 
Company  up  to  the  17th  of  February,  1875,  when 
the  Company  passed  under  the  exclusive  direction 
of  the  two  cities,  by  virtue  of  the  act  of  June  5, 
1874   $4,869,153.20 

And  by  the  said  Company  as  so  constituted  until  the 
9th  of  June,  1875,  when  the  bridge  became  the  pro- 
perty of  the  two  cities   $519,492.86 


Total  by  the  Bridge  Company   $5,388,646.06 

By  the  Trustees  of  the  two  cities  from  June  9th,  1875, 
to  the  1st  of  January,  1876,  exclusive  of  the  liabili- 
ties of  the  Bridge  Company,  paid  by  the  Trustees 
and  included  in  the  above  mentioned  expenditures 

ut  the  Company   .  $566,263.57 


Total  expenditures,  January  1,  1876,  as  before....  $5,954,909.63 


9 


The  Estimated  Amount  now  Reqi  tt-fp  to  Complete 

THE  BbTDG^BT. 

This  will  appear  by  the  following  estimate  just  made 
by  Col.  W.  A.  Roebling,  who  succeeded  his  father  as 
Chief  Engineer,  upon  the  death  of  the  latter,  and  has 
now  the  direction  of  the  work. 


Estimate  Jani  aky,  1876. 


Amount  required  to  complete  Brooklyn  tower   $7,000  00 

Masonry  required  to  complete  New  York  tower,  8,800 

cubic  yards  at  $36   136,800  00 

Cost  of  completing  Brooklyn  anchorage   62.482  00 

Cost  of  completing  New  York  anchorage   248,210  00 

Ban  and  castings  for  anchorages   4,8-56  00 

Anchor  chains  and  pins  for  Brooklyn  anchorage   5,568  00 

Anchor  chains  and  pins  for  New  York  anchorage   32,136  00 

Suspended  superstructure  as  per  original  estimate,  in- 
cluding the  8  per  cent,  for  increased  size   3,011,010  00 

Approaches   742.516  00 

Toll-houses  and  gateways   20,000  00 

Engineering   140,000  00 

Contingencies   100.000  00 


Total  required  to  complete  bridge  and  approaches  in- 
dependently of  the  land   4,510,<>17  00 

And  for  the  laud  yet  to  be  taken,  according  to  the 

mode  of  estimating  its  cost  before  mentioned   2,706,413  00 

.Making  in  all  for  land  and  structure  complete  ....  7,217,030  00 


Whole  Cost  of  the  Bridge  \>  now  Estimated. 

Amount  already  expended    $5,954,910  00 

Existing  liabilities  for  materials  deliv- 
ered and  charges,  as  per  schedule  B.         !>2.J)13  00 

16, 047, 823  00 

Less  cash  and  materials  on  hand   1  1.5,278  00 

Whole  amount  expended   >."..!.()•.'.. ">  |'.  00 

To  be  expended  as  above   7,217,090  00 

Total  tl8,119JI7fl  00 


10 


-From  this  amount  a  large  deduction  is  to  be  made  on 
account  of  the  land  lying  under  the  bridge.  It  has  been 
deemed  proper  to  take  all  such  land  outright,  although 
it  would  be  only  partially  damaged  by  the  passage  of 
the  bridge  over  it,  and  its  full  value  has  therefore  been 
included  in  the  foregoing  estimate.  It  lies  between  the 
river  and  the  points  in  either  city  where  the  structure 
leaves  a  clear  space  of  fifteen  feet  between  its  under 
side  and  the  ground,  and  is  all  capable  of  more  or  less 
utilization.  The  cost  of  this  land  in  the  estimate  is  §2,- 
740,416.  Should  forty  per  cent,  only  of  its  cost  be  re- 
alized on  a  sale  for  the  limited  purposes  to  which  its 
use  should  be  restricted,  there  would  be  a  deduction 
from  the  total  estimated  cost  of  §1,0,96,66,  leaving  the 
net  cost  of  the  entire  work  $12,023,409. 

The  act  of  1 875  provides,  however,  that  the  interest  on 
the  bonds  for  the  §8,000,000,  to  be  issued  by  the  two 
cities,  should  be  paid  by  the  trustees  out  of  the  moneys  to 
be  received  by  them.  The  eifect  of  this  is  that  no  payment 
of  interest  on  their  bonds  will  be  made  by  the  cities  for 
three  years  ;  but  the  cost  of  the  bridge  will  be  enhanced 
§1,067,500,  being  the  amount  of  the  interest  so  to  be 
paid  for  them  by  the  trustees. 

The  difference  between  the  original  estimates  and 
thos  now  made  for  the  work,  complete,  and  ready  for 
use  is  §1,441,722,  or  about  12-^  per  cent,  on  the  whole  cost, 
and  is  entirely  due  to  the  actual  increased  cost  of  the  work 
already  done,  or  nearly  done,  owing  partly  to  increased 
depth  and  size  of  the  towers  and  anchorages,  and  increased 
price  of  materials  and  labor  used  upon  them.  This  in- 
crease will  have  been  incurred  on  those  different  portions 
of  the  work  in  the  following  amounts : 

Tower  foundations  ,   $240,005  56 

Tower  masonry   681,605  30 

Anchorages   380,652  98 

Total   $1,302,263  84 


1  ! 


Brought  forward   $1,302,263  .94 

To  which  is  to  be  added  for  increased  ex- 
penses of  Engineering  and  Machinery...  £234,870  94 


And  for  office  salaries  and  expenses,  super- 
intendence and  general  administration  of 
the  work  for  six  years,  and  upwards,  not 

included  in  the  estimate    180,861  22 

 $424,222  16 

Making  in  all  $1,726,486  00 

And  from  this  amount  is  to  be  deducted  a  reduction 
on  the  other  items  of  estimate  of   £284,7(54  76 

Making  the  net  increase  as  stated  above   $1,441,721  24 


The  increased  cost  of  the  foundations  of  the  towers 
was  owing  :  1.  To  the  rooky  nature  of  the  excavation 
on  the  Brooklyn  side,  by  which  it  was  increased  from  $1 
to  $6.40  per  yard.  2.  The  necessity  of  providing  against 
fire  in  the  caissons,  the  danger  of  which,  from  com- 
pressed air,  was  previously  unknown,  and,  3.  The  high 
price  of  labor  in  the  caissons  being  $2.75  for  four  hours 
work,  causing  an  increase  on  that  account  alone  of  over 
$100,000. 

The  masonry  in  the  towers  was  actually  increased 
12,693  yards  beyond  the  original  estimate,  by  reason  of 
greater  depth  and  width  of  the  New  York  tower,  inde- 
pendently of  the  allowance  of  eight  per  cent,  for  increased 
height,  making,  at  $25.88  per  yard.  $328,488.50.  The  ac- 
tual cost  of  the  residue  being  72,86:)  yards,  at  the  same 
rate  per  yard,  w  as  S-L.S8  per  yard  more  than  the  original 
estimate,  or  in  the  aggregate  §353.116.80—  the  two  items 
amounting  to  s(>Sl?0o5.30. 

The  cost  of  the  anchorages  was  enhanced  by  an  in- 
creased size  of  both,  judged  pmpur  by  the  present  en- 
gineer, and  the  greater  depth  of  the  New  York  founda- 
tion, owing  to  the  marshy  (character  of  the  snbstraturJQ 
which  had  to  be  removed,  and  by  a  change  in  the  plan 
of  the  anchor  plates  and  chains. 

These  explanatory  details  are  given  in  order  to  -how 
that  the  increase  has  been  owing  to  increased  sol  id  it;,  and 


12 


strength  given  to  the  structure,  and  the  novelty  of  the 
foundations,  which  are  twenty  times  larger  than  any 
pneumatic  foundations  ever  put  down  before,  and  conse- 
quently without  any  experience  as  to  the  danger  to  men 
working  in  compressed  air  to  a  depth  of  seventy-eight 
feet  below  the  surface  of  the  river,  or  to  the  greater  lia- 
bility to  combustion  in  the  caissons  from  the  same  cir- 
cumstance. 

Moneys  Received  up  to  January  1,  1876. 

From  the  City  of  Brooklyn   $3,965,000 

From  the  City  of  New  York   1,500,000 

From  private  stockholders  of  the  Company   349,800 

For  interest  on  deposits,  rents,  wharfage,  material  sold, 

etc   146,645 

$5,961,445 


The  Acceptance  of  the  Provisions  of  the  Act  of 
1874,  and  the  Reorganization  of  the  Bridge 
Company. 

By  the  Law  of  June  5,  1874,  it  is  enacted  that  when 
either  of  the  cities  of  New  York  and  Brooklyn  should, 
by  vote  of  its  Common  Council,  accept  the  provisions  of 
the  third  section  of  that  act  authorizing  the  issue  of 
bonds  of  the  cities  to  the  amount  of  $3,000,000,  and  the 
payment  thereof  to  the  Bridge  Company,  and  the  owners 
of  two- thirds  of  the  private  stock  of  the  Company  should 
accept  the  provisions  of  the  second  section  of  the  act, 
authorizing  the  purchase  of  the  rights  of  any  private  stock- 
holder in  the  Company,  by  a  board  of  directors,  to  be  ap- 
pointed on  behalf  of  the  two  cities,  the  board  of  directors 
of  the  Company  should  consist  of  twenty  members,  to  be 
composed  of  the  Mayors  and  Comptrollers  of  the  two 
cities,  by  virtue  of  their  offices,  and  eight  persons  to  be  ap- 
pointed by  the  LMayor  and'  Comptroller  of  JSTew  York, 


13 


with  a  like  number  to  be  appointed  by  the  Mayor  and 
Comptroller  of  Brooklyn.  The  Common  Council  of 
New  York  never  voted  to  accept  those  provisions,  but 
the  Common  Council  of  Brooklyn  did  vote  to  accept 
them  on  the  20th  of  August,  1874,  and  on  the  28th  day 
of  September,  1874,  the  owners  of  two-thirds  of  the 
private  stock  of  the  Company  accepted  the  provisions  of 
the  second  section  of  the  act,  by  an  instrument  in  wait- 
ing, duly  recorded  in  the  offices  of  the  Registers  of  the 
City  and  County  of  New  York,  and  of  the  County  of 
Kings,  respectively  :  by  which  action  the  provisions  for 
the  appointment  of  a  new  board  of  directors  of  the  Com- 
pany became  operative,  and  the  following  persons  were 
appointed  such  directors  by  the  Mayor  and  Comptroller 
of  the  City  of  New  York,  viz.  : 

J  as.  M.  McLean,  John  Riley, 

Lloyd  A  spin  wt  all,  Chas.  J.  Canda, 

Francis  B.  Thurber,  J  as.  M.  Motley, 

Abram  S.  Hewitt,  Lawrence  Turnure, 

And  by  the  Mayor  and  Comptroller  of  the  City  of 
Brooklyn,  viz : 

Henry  C.  Murphy,  David  M.  Stone, 

Thomas  Carroll,  William  C.  Kingsley, 

James  S.  T.  Stranahan,     William  Marshall, 
George  L.  Nichols,  Samuel  Booth. 

All  of  whom  entered  upon  their  duties  on  the  seven- 
teenth of  February.  1875. 


Extinguishment  of  the  Rights  of  the  Private  Stouk- 
holders.  Dissolution  of  the  Bridge  Company, 
and  the  bridge  made  a  public  work  of 
THE  Two  Cities,  to  be  Administered 
by  a  Board  of  Trustees. 

1  he  new  Hoard  of  Directors,  in  pursuance  of  the 
powers  conferred  upon  them  by  the  act  of  1874,  pur- 


14 


chased  on  the  24th  day  of  May,  IS 75.  the  rights  of  all 
the  private  stockholders  on  the  basis  prescribed  by  the 
act,  and  as  shown  in  the  accompanying  Schedule  A, 
giving  them  the  obligations  of  the  Company,  payable  on 
the  24th  of  November  last,  which  obligations  are  still 
outstanding ;  whereupon,  the  private  stockholders  were 
entirely  retired  from  the  Company. 

By  the  act  of  May  li,  1375,  chapter  300,  of  the  Laws 
of  that  year,  upon  the  retirement  of  the  private  stock- 
holders, the  Bridge  Company  was  dissolved,  and  all  its 
property  and  effects  became  vested  in  the  two  cities,  and 
the  bridge  was  declared  by  such  dissolution  to  be  a 
public  work,  to  be  constructed  by  the  two  cities —two- 
thirds  of  the  expense  thereof  and  of  all  the  liabilities  of 
the  Company  to  be  borne  by  the  City  of  Brooklyn,  and 
one-third  by  the  City  of  Xew  York.  And  it  was  further 
provided  by  the  act  that  a  Board  of  Trustees  should  be 
appointed,  consisting,  in  connection  with  the  Mayors 
and  Comptrollers  of  the  two  cities,  by  virtue  of  their 
offices,  of  eight  persons,  to  be  appointed  by  the  Mayor, 
Comptroller,  and  President  of  the  Board  of  Aldermen  of 
the  City  of  Xew  York,  and  a  like  number  by  the  Mayor, 
Comptroller,  and  City  Auditor  of  the  City  of  Brooklyn, 
for  the  purpose  of  managing  and  constructing  the  bridge, 
with  the  obligation  of  paying  all  the  debts  and  liabilities 
of  the  Company.  The  following  persons  were  accord- 
ingly appointed  trustees  by  the  authorities  of  New  York, 


viz 


James  M.  McLean,  John  Riley, 

Lloyd  Aspinwall,  Chas.  J.  Caxda, 

Francis  B.  Thurber,  Jas.  M.  Motley, 

Abram  S.  Hewitt,  Lawrence  Turn  ij re, 
And  the  following  by  the  authorities  of  Brooklyn  : 

Henry  C   Murphy,  William  Marshall, 

Thomas  Carroll,      t  Henry  W.  Slocum, 

Jas.  S.  T.  Stranahan,  Isaac  Yan  Anden, 

William  C.  Kjlnosley,  William  B.  Leonard. 


18 


All  of  whom  accepted  the  appointment,  and  entered 
upon  its  duties  on  the  9th  of  June,  1875.  Since  then 
Charles  J.  Cauda,  appointed  one  of  the  Commissioners 
of  Rapid  Tran-it  in  New  York,  has  resigned,  and  his 
place  has  been  tilled  by  Jenkins  Van  Schaick,  Esq.,  and 
the  place  of  Isaac  Van  Anden,  Esq..  from  Brooklyn,  has 
become  vacant  by  his  death,  and  is  not  yet  filled. 

The  Proceedings  ok  the  Trustees  and  their  Out- 
standing Liabilities. 

The  Trustees  thus  charged  as  a  special  public  authority 
with  the  construction  of  the  Bridge  and  payment  of 
the  debts  and  liabilities  of  the  Company,  were  empow- 
ered by  the  act  of  1875,  before  mentioned,  to  call  from 
time  to  time  upon  the  two  cities,  by  request  made  to  the 
Mayor  and  Comptroller  thereof,  respectively,  for  such 
sums  as  they  should  deem  proper,  in  the  proportion^ 
above  mentioned, "  not  exceeding  in  all  eight  millions  of 
dollars,  and  not  exceeding  one  million  of  dollars  in  any 
one  year  from  the  City  of  New  York,  and  two  millions 
of  dollars  in  any  one  year  from  the  City  of  Brooklyn , 
until  the  Bridge  should  be  completed  and  open  for  pub- 
lic travel,  and  the  debts  and  liabilities  incurred  therefor 
should  be  fully  paid  ;"  to  meet  which  the  two  cities  were 
respectively  authorized  and  required  to  issue  bonds  and 
pay  the  proceeds  to  the  Trustees. 

In  accordance  with  their  duties  and  powers  the  ti  ns 
tees,  on  the  9th  of  June,  1875,  called  upon  the  two  cities, 
as  required  by  the  act,  for  an  instalment  of  one  million 
live  hundred  thousand  dollars  ;  one  million  thereof  from 
the  City  of  Brooklyn,  and  five  hundred  thousand  from 
the  Citv  of  New  York,  part  of  their  respective  quotas  of 
the  eight  millions  authorized  by  the  act  ;  and  they  pro- 
ceeded with  every  diligence  in  the  construction  of  the 
bridge,  but  although  the  City  of  Brooklyn  promptly  com- 
plied with  the  requisition,  the  City  of  oSew  York  as  yet 


16 


has  not  done  so,  and  in  consequence  the  Trustees  have 
forborne  to  make  any. further  call,  and  have  been  unable 
to  discharge  their  obligations.  In  order  to  a  correct  un- 
derstanding of  the  nature  and  extent  of  the  outstanding 
liabilities  of  the  Trustees,  including  all  those  to  arise  un- 
der contracts  in  course  of  fulfillment,  a  list  is  hereunto 
annexed  marked  B. 

In  conclusion,  I  may  add  that  if  the  means  be  promptly 
furnished,  the  Bridge  can  be  entirely  finished  and  open 
for  public  travel,  and  begin  to  be  remunerative  in  the 
summer  or  fall  of  1879.    True  economy,  in  the  prosecu- 
cution  of  the  work,  is  to  push  it  forward,  with  all  the 
speed  that  a  due  regard  to  its  proper  construction  will 
permit.    Money  as  well  as  land  and  materials  are  now 
cheap,  and  will  combine  to  reduce  its  cost  below  the 
estimate ;  while,  on  the  other  hand,  delay  will  add  to  the 
cost  by  the  accumulation  of  interest  on  the  amount 
already  expended  in  proportion  to  its  extent.     And  I 
may  be  allowed  further  to  say  that  this  work  is  not,  as 
sometimes  urged,  one  of  a  purely  sectional  character. 
It  will  open  a  new  thoroughfare  for  half  a  million  of 
people  to  the  centre  of  business  and  intelligence  in  this 
great  metropolis  of  the  nation — where  it  is  already  fixed 
by  the  erection  of  public  buildings  both  national  and 
municipal,  and  by  grand  edifices  devoted  by  private  en- 
terprise to  financial,  telegraphic  and  journalistic  purposes. 
It  will  practically  unite  the  two  cities,  and  contribute  to 
the  convenience,  comfort  and  safety  of  that  portion  of 
the  community,  which  will  use  it  in  their  daily  avoca- 
tions, and  be  a  worthy  monument  of  the  foresight  as 
well  as  the  greatness  of  New  York.    If  made  perfectly 
free  for  travel  it  will  yet  be  self  sustaining,  and  with- 
out expense  in  the  future  for  its  maintenance,  by  re- 
ceipts of  the  railway,  which  will  carry  over  it  for  a 
trifling  charge,  such  as  may  be  disposed  to  avail  them- 
selves oi  it;  while  the  "entire  cost  to  the  City  of  New 
York  will  not,  in  any  possible  contingency,  including 


17 


ail  the  "vast  suni>  "  already  contribute  d,  amount  to  five 
millions  of  dollars. 

Respectfully  submitted, 

HEN:  0.  MURPHY. 

1.   List  of   Original   Subscribers   to   the  Capital 
Stock  of  the  New  York  Bridge  Company. 

NAMES.  SHARKS. 

Henry  C.  Murphy   100 

Isaac  Van  Anden   200 

William  Marshall   50 

Seymour  L.  Hosted   200 

Samuel  McLean!   50 

Arthur  W.  Benson   20 

Martin  Kalbfleisch   200 

Alexander  McCue   100 

William  M.  Tweed   560 

Peter  B.  Sheeny   560 

Hugh  Smith   560 

Henry  W.  Slocum   500 

James  S.  T.  Stranahan   100 

Grenville  T.  Jenks   50 

Kingsley&  Keeney   1,600 

John  II .  Prentice   50 

William  Hunter,  Jr   50 

John  W.  Lewis   50 

The  City  of  New  York  15,000 

The  City  of  Brooklyn  30,000 

Total   50,000* 


IS 


%  Stockholders  of  the  New  York  Bridge  Company, 
on  the  14th  of  Mat,  1S75. 

With  the  number  of  shares  held  by  each,  and  the  amount  paid  there- 
on, together  with  the  amount  refunded  to  the  private  stockhold- 
ers on  the  24th  of  May.  1875,  on  the  purchase  of  their  rights, 
being  principal  and  interest  on  the  amount  paid  by  them,  pursu- 
ant to  the  provisions  of  the  second  section  of  chapter  601  of 
the  Laws  of  1874. 


Individuals. 

No.  Of 

Amount 

Amount 

shaves. 

paid  thereon. 

refunded. 

Henrv  C.  Murphy  

240 

19.200 

.-25.065  74* 

Isaac  Van  Anden 

20.000 

25.049  82 

William  Marshall  

~50 

~4.500 

~d]  727  9(1 

ou 

»"»  AAA 

2.  UUI 1 

J.  i  10  04 

Arthur  W.  Benson  

20 

.  1.800 

2,283  13 

Alexander  McCue  

250 

20,000 

35,562  72 

Peter  B.  Sweenv  

210 

8,400 

11.306  09 

Hugh  Smith  

315 

25.200 

30.764  58 

Henrv  W.  Slocum  

250 

20.000 

25.396  75 

James  S.  T.  Stranahan  

490 

39,200 

51.241  42t 

Kimislev  &  Keenev  

1210 

88.400 

112,799  92 

John  H.  Prentice.  

50 

4,500 

5,687  24 

50 

4.000 

4.962  44 

Demas  Barnes  

100 

9.000 

11.348  64 

William  C.  Kinsrslev  

525 

25.200 

32.866  98 

Seymour  L.  Hasted  

500 

40.000 

51.217  26 

Daniel  A.  Bostwick  

210 

8,400 

11.306  09 

210 

8.400 

11,306  09 

William  H.  Vanderbiit  

10 

800 

Abram  S.  Hewitt  

10 

800 

Totals  

5000 

*349.800 

•-447.808  36 

CORPORATIONS. 

The  City  of  Brooklvn  

80.000 

83.000.000 

The  City  of  New  York  

15.000 

1,500,000 

• 

50.000 

14,849,800 

*  Includes  the  amount  refunded  on  10  shares  of  William  II.  Vanderbiit, 
as>i<ined  to  Henry  c.  Murphy,  subsequently  to  the  14th  of  May,  1S75.  the  date  of 
rhe  passage  of  the  law  of  1S75. 

t  Includes  the  amount  refunded  on  10  shares  of  Abram  S.  Hewitt,  assigned  to 
J.  s.  t.  stranahan,  subsequently  to  the  14th  of  May,  18T5. 


1!) 


B. 

Liabilities  January  I,  187t>,  kuu  Material  and 
Work. 

Collins  Granite  Co,  retained  on  contract   £4,5(U  96 

Noone  &  Madden,            "        <;   18,804  10 

Beattie  &  Dresser              u         "    3,422  45 

Keystone  Bridge  Co..          "         "    2,383  37 

Beattie  &  Dresser,  for  stone  delivered   704  31 

Bod  well  Granite  Co..         «•   26,12107 

Lake  Chatnplain  Blue  Stone  Co.,  for  stone  delivered   1,412  87 

Divine  Burtis,  Jr..                          "             "    2,360  59 

Alexander  McCue,  bill  not  yet  audited   969  90 

Edgar  M.  Cullen,        t;         "    0,527  82 

Collins  Granite  Co.,  certificate  of  indebtedness   is. 514  98 

Keystone  Bridge  Co. ,             "          "    5. 61 0  23 

Rents  to  January  1—2  months   1,383  33 

Salaries  and  bills  due  January  1   3,084  25 

Balance  due  on  salaries  to  January  1   1,539  OS 


$92,918  30 

To  Private  Stockholders. 

Certificates  of  indebtedness,  as  per  Schedule  A,  and  in- 
terest to  January  1,  1876  ^466.703  38 

Materials  to  j$e  Delivered  after  January  L,  1 S T* J 
oh  Outstanding  Contracts. 


Joseph  Brcnnan.         "    8.575  30 


South  Brooklyn  Saw  Mill  Co.,  Lumber   600  18 

A.  W.  Bbadbolt  a-  Bon,  cart   180  00   |190.256  85 


.■s74'.t.s7H  53 


p 


